Ishares Pharmaceuticals Etf Market Value
| IHE Etf | USD 63.10 0.09 0.14% |
| Symbol | IShares |
The market value of iShares Pharmaceuticals is measured differently than its book value, which is the value of IShares that is recorded on the company's balance sheet. Investors also form their own opinion of IShares Pharmaceuticals' value that differs from its market value or its book value, called intrinsic value, which is IShares Pharmaceuticals' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because IShares Pharmaceuticals' market value can be influenced by many factors that don't directly affect IShares Pharmaceuticals' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between IShares Pharmaceuticals' value and its price as these two are different measures arrived at by different means. Investors typically determine if IShares Pharmaceuticals is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, IShares Pharmaceuticals' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
IShares Pharmaceuticals 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to IShares Pharmaceuticals' etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of IShares Pharmaceuticals.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in IShares Pharmaceuticals on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding iShares Pharmaceuticals ETF or generate 0.0% return on investment in IShares Pharmaceuticals over 30 days. IShares Pharmaceuticals is related to or competes with IShares Healthcare, SPDR SP, Invesco Dynamic, IShares Healthcare, and IShares Insurance. The fund generally will invest at least 80 percent of its assets in the component securities of its underlying index and... More
IShares Pharmaceuticals Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure IShares Pharmaceuticals' etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess iShares Pharmaceuticals ETF upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 3.76 | |||
| Value At Risk | (1.05) | |||
| Potential Upside | 1.47 |
IShares Pharmaceuticals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for IShares Pharmaceuticals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as IShares Pharmaceuticals' standard deviation. In reality, there are many statistical measures that can use IShares Pharmaceuticals historical prices to predict the future IShares Pharmaceuticals' volatility.| Risk Adjusted Performance | 0.0011 | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.09) | |||
| Treynor Ratio | (0.01) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of IShares Pharmaceuticals' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
iShares Pharmaceuticals Backtested Returns
iShares Pharmaceuticals holds Efficiency (Sharpe) Ratio of -0.0059, which attests that the entity had a -0.0059% return per unit of risk over the last 3 months. iShares Pharmaceuticals exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out IShares Pharmaceuticals' Standard Deviation of 0.7968, risk adjusted performance of 0.0011, and Market Risk Adjusted Performance of (0) to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of 0.95, which attests to possible diversification benefits within a given portfolio. IShares Pharmaceuticals returns are very sensitive to returns on the market. As the market goes up or down, IShares Pharmaceuticals is expected to follow.
Auto-correlation | 0.17 |
Very weak predictability
iShares Pharmaceuticals ETF has very weak predictability. Overlapping area represents the amount of predictability between IShares Pharmaceuticals time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of iShares Pharmaceuticals price movement. The serial correlation of 0.17 indicates that over 17.0% of current IShares Pharmaceuticals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.17 | |
| Spearman Rank Test | 0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 1.53 |
iShares Pharmaceuticals lagged returns against current returns
Autocorrelation, which is IShares Pharmaceuticals etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting IShares Pharmaceuticals' etf expected returns. We can calculate the autocorrelation of IShares Pharmaceuticals returns to help us make a trade decision. For example, suppose you find that IShares Pharmaceuticals has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
IShares Pharmaceuticals regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If IShares Pharmaceuticals etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if IShares Pharmaceuticals etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in IShares Pharmaceuticals etf over time.
Current vs Lagged Prices |
| Timeline |
IShares Pharmaceuticals Lagged Returns
When evaluating IShares Pharmaceuticals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of IShares Pharmaceuticals etf have on its future price. IShares Pharmaceuticals autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, IShares Pharmaceuticals autocorrelation shows the relationship between IShares Pharmaceuticals etf current value and its past values and can show if there is a momentum factor associated with investing in iShares Pharmaceuticals ETF.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards IShares Pharmaceuticals in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, IShares Pharmaceuticals' short interest history, or implied volatility extrapolated from IShares Pharmaceuticals options trading.
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Try AI Portfolio ArchitectCheck out IShares Pharmaceuticals Correlation, IShares Pharmaceuticals Volatility and IShares Pharmaceuticals Alpha and Beta module to complement your research on IShares Pharmaceuticals. Note that the iShares Pharmaceuticals information on this page should be used as a complementary analysis to other IShares Pharmaceuticals' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the CEOs Directory module to screen CEOs from public companies around the world.
IShares Pharmaceuticals technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.